What do the different components of fund balance mean?

The components of fund balance represent different uses of available resources and are categorized by the level of the restriction. In the CAFR, these categories are presented for governmental fund basis statements, but not for enterprise fund statements. The classifications of net resources are defined as follows: •Nonspendable: Cannot be spent due to form or because they must be maintained in tact •Restricted: Externally enforceable limitations exist for the use of these resources •Committed: Self imposed limitations exist that were enacted at the highest level of decision making •Assigned: Limitations exist that result from internally assigning resources for an intended use •Unassigned: Remaining resources after all other categories are accounted for

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1. What is the General Fund?
2. What are the primary General Fund revenue sources?
3. What is the 4th Cent Sales & Use Tax and how is it allocated?
4. What is the 5th Cent Sales & Use Tax (local option) and how is it allocated?
5. We have a 6th cent specific purpose tax (1% SPT local option) in Albany County. Why don’t I see it in General Fund revenue sources? How is this tax being managed?
6. How much debt can the City carry?
7. What are the current types of general fund debt and the terms associated with the debt?
8. What is an Enterprise Fund?
9. What types of enterprise fund debt are held by the City and what are the terms associated with that debt?
10. What determines how much the City can spend?
11. What is the City’s Bond Rating?
12. What is Depreciation? How does the City manage it?
13. What are Fund Balance and Net Position?
14. What do the different components of fund balance mean?
15. What is a Modified Balance Sheet?
16. What are the Days of Operation Reserves?
17. What are the Recreation Center’s primary revenue sources?
18. What is the percent of Cost Recovery for the Recreation Center?
19. What is the Enterprise Fund Shared Services Transfer?
20. How does the City plan its budget for Enterprise Funds?
21. Are the revenues in the Enterprise fund only user fees?
22. How does the Financial Outlook Report differ from the Comprehensive Annual Financial Report (CAFR)?